Bank of America Corp agreed to pay US$7.23 million in restitution and interest to settle a U.S. regulator's accusations that it overcharged ...
Bank of America Corp agreed to pay US$7.23 million in restitution and interest to settle a U.S. regulator's accusations that it overcharged customers on mutual funds.
FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri/File PhotoREUTERS: Bank of America Corp agreed to pay US$7.23 million in restitution and interest to settle a U.S. regulator's accusations that it overcharged customers on mutual funds.
The Financial Industry Regulatory Authority said on Thursday that the accord resolves charges that customers with more than 13,000 accounts at the bank's Merrill Lynch unit incurred unnecessary sales charges and paid excess fees.
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